What metrics would you use to evaluate NAB's QuickBiz unsecured business loans?

Introduction

Evaluating the success of NAB's QuickBiz unsecured business loans requires a comprehensive approach to product metrics. To address this product success metrics challenge effectively, I'll follow a structured framework covering core metrics, supporting indicators, and risk factors while considering all key stakeholders.

Step 1

Product Context

NAB's QuickBiz is an unsecured business loan product offered by National Australia Bank (NAB), one of Australia's "Big Four" banks. It's designed to provide fast, easy access to funding for small and medium-sized enterprises (SMEs).

Key stakeholders include:

1. SME owners/managers (primary users)
2. NAB shareholders
3. NAB employees (loan officers, customer service)
4. Regulators (ASIC, APRA)

User flow:

1. Application: Business owners complete an online application, providing basic business and financial information.
2. Assessment: NAB's automated system evaluates the application using various data points and risk models.
3. Approval & Funding: If approved, funds are typically disbursed within 1-2 business days.
4. Repayment: Borrowers make regular repayments, usually monthly, over the loan term.

QuickBiz aligns with NAB's strategy to support Australian businesses and compete in the growing fintech lending space. It competes with similar products from other major banks and online lenders like Prospa and Moula, differentiating through the bank's established reputation and potential for deeper customer relationships.

The product is in the growth stage of its lifecycle, having been launched a few years ago and now focusing on scaling and optimizing performance.